BU231 Lecture Notes - Lecture 11: Bailment, Registered Mail, Personal Property
Document Summary
Bailments: a transfer of possession of personal property without a transfer of ownership. Video from big bang sheldon signed for penny"s package and he made her sign off on him giving it to her. Nature of bailment: personal property (chattels) only can include documents containing legal rights, not real property, transfer of possession without transfer of title (ownership) Chattels personal property: things, ex. Your computer, your pet, your water bottle etc: does not include land, intangibles (intellectual property) If i give you the keys to my car, you do not own it, but bailment has been created as you are in possession of the car. Contractual: designed to benefit both parties, bailment for value, ex. I give a repair shop my car i still own it but the repair shop is in possession of my car. Non-contractual: can benefit either party or both parties, gratuitous. Where there is no consideration or intention to create a legal relationship: ex.
